Ivanka Co. Served with Subpoena For Connection to Massive Money Laundering Allegations

Ivanka Co. Served with Subpoena For Connection to Massive Money Laundering Allegations

The Commercial Bank of Dubai has now subpoenaed Ivanka Trump’s diamond jewelry line, with the underlying reason being that the diamonds were being used in a $100,000,000 money laundering scheme, according to a GQ report.

High-end real estate is a common vehicle for money laundering, in part because, until recently, the industry was effectively exempt from many of the laws that prevent laundering through other types of assets, such as the “Know Your Customer” laws that apply to banking. But diamonds, too, hold an important place in the money launderer’s toolkit. Mountains of dirty money can be converted into tiny diamonds, which are easy to store or smuggle across national boundaries, and convert back into cash when the opportunity arises.

The Trumps are not the only Western business owners whose ventures have been tied to alleged money laundering and fraud schemes, but they are the only ones who are also in charge of American foreign policy, making the entanglements—and possible points of leverage—that arise from such ventures matters of national security.

One of the conspirators being targeted in the subpoena just happens to be the guy who introduced Ivanka to Jared Kushner, who of course is now her husband.

Bill Palmer points out, “This comes not long after the reporting about Ivanka’s involvement with her father’s businesses in Panama, which just happened to be deeply involved in money laundering. And of course Ivanka spearheaded various shady Trump Organization real estate deals with Felix Sater, who has been convicted for money laundering in relation to the Russian mafia.”

A spokesman from Ivanka’s company said in an email that “because Ivanka Trump’s holding company has severed ties with Madison Avenue Diamonds, no one at her company or at the Trump Organization has any knowledge of the subpoena request or any events related to it.”